Life Insurance

Financial Planning

Life insurance is a sensitive topic, but it’s an important component in your family’s financial planning. It ensures that your family has the financial support that they need to cover medical bills, final expenses, debts and estate taxes even after you’re gone.

Give yourself and your family peace of mind with life insurance. Whether you choose a universal life, whole life or a term life policy, Royalty Insurance can help you get the coverage that you need. Our simple underwriting process paired with customized coverage for a wide age range, will have you covered in no time.

What You Need to Know

We can help you select the best Life insurance coverage for your needs. There are several different types of Life insurance products available – the most common include:

Term Life Insurance

Term Life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance, and is available in varying time periods with fixed premiums from a one year (annual renewable term) to 20-year (level term) period.

Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

Whole Life Insurance

Whole Life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.

Universal Life Insurance

Universal Life is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.

LIFE INSURANCE

Advantages

Having the right life insurance is essential to planning for your present and your future. Not only can life insurance provide assurance for your family after you are gone, many life insurance options offer other benefits and investment opportunities you can take advantage of while you are living.

Benefits

Death Benefits –

When you pass away, your life insurance provides income (tax-free) to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need.

Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

Living Benefits –
The cash value growth of a permanent (whole) life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a permanent life insurance policy to help with expenses, such as college tuition or the down payment on a home.

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Every person is unique – talk to us today to find out how to get the best price and value on Life insurance for you.

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